Brokerages Set Waste Management, Inc. (NYSE:WM) Price Target at $248.95

Shares of Waste Management, Inc. (NYSE:WM) have received an average recommendation of “Moderate Buy” from the thirty brokerages that are covering the firm, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $249.1818.

Several equities research analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Waste Management in a report on Friday, November 14th. They issued an “overweight” rating and a $238.00 price target for the company. Erste Group Bank cut Waste Management from a “buy” rating to a “hold” rating in a research note on Thursday, September 11th. Baird R W raised shares of Waste Management from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Morgan Stanley lowered their price objective on shares of Waste Management from $232.00 to $230.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Finally, CIBC cut their price objective on shares of Waste Management from $235.00 to $231.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th.

Waste Management Stock Down 0.1%

Shares of NYSE:WM opened at $219.17 on Friday. The company has a 50 day moving average price of $212.70 and a two-hundred day moving average price of $219.76. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.80 and a current ratio of 0.84. The company has a market capitalization of $88.30 billion, a PE ratio of 34.52, a PEG ratio of 2.46 and a beta of 0.59. Waste Management has a 52 week low of $194.11 and a 52 week high of $242.58.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Monday, October 27th. The business services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.03). The firm had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.51 billion. Waste Management had a net margin of 10.35% and a return on equity of 33.00%. Waste Management’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $1.96 EPS. Analysts forecast that Waste Management will post 7.7 earnings per share for the current year.

Waste Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, December 5th. Waste Management’s dividend payout ratio is currently 51.97%.

Insider Activity

In related news, SVP Rafael Carrasco sold 1,380 shares of Waste Management stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $217.06, for a total value of $299,542.80. Following the sale, the senior vice president owned 15,540 shares of the company’s stock, valued at approximately $3,373,112.40. This trade represents a 8.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Institutional Trading of Waste Management

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Planning Group LLC increased its stake in Waste Management by 101.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 133 shares of the business services provider’s stock valued at $29,000 after buying an additional 67 shares during the last quarter. JPL Wealth Management LLC bought a new position in shares of Waste Management in the 3rd quarter valued at about $30,000. Loomis Sayles & Co. L P acquired a new stake in shares of Waste Management in the second quarter valued at about $40,000. Holos Integrated Wealth LLC bought a new stake in Waste Management during the fourth quarter worth about $40,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Waste Management during the third quarter valued at approximately $41,000. 80.40% of the stock is currently owned by institutional investors and hedge funds.

About Waste Management

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.